Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Jack Ma, the billionaire founder of Alibaba, disappeared from public view in 2020. He's been living in Tokyo for the past 6 months, a new report says.

Jack Ma, the billionaire founder of Alibaba, disappeared from public view in 2020. He's been living in Tokyo for the past 6 months, a new report says.

Ma has been lying low since October 2020, when he gave a speech criticizing China's financial regulatory system that angered Chinese authorities.
Once one of China's richest businessmen, Jack Ma, the founder of Alibaba Group, mostly disappeared from public view two years ago after a run-in with the authorities. He's now resurfaced in Tokyo, the Financial Times reported on Tuesday, citing people with direct knowledge of his whereabouts.

Ma, an outspoken teacher turned tech titan, was once a high-profile jet-setter who was the face of China's Big Tech. But he has been lying low since October 2020 after giving a speech criticizing China's financial regulatory system.

His words angered the Chinese authorities, prompting intense regulatory scrutiny of his businesses and a wider crackdown on tech firms in the country.

There has been intense speculation about Ma's whereabouts since he vanished from the limelight.

The billionaire was spotted in July visiting Wageningen University & Research, the Dutch institution announced on its website.

The Financial Times report said that though he's been living in Tokyo for nearly half a year, Ma has been keeping a low profile in the city and socializing mainly within several private members clubs. It said he's also spent his time in Japan visiting hot springs and ski resorts in the countryside with his family.

Ma has been making regular trips to the US and Israel, the report said.

Like China, Japan had some of the world's toughest border controls during the pandemic, but visa-free travel resumed last month. In contrast, lockdowns have persisted in China, leading to rare protests against the authorities over the weekend.

The spotlight on Ma's activities coincided with Beijing's push for "common prosperity," a concept that the rich must share their wealth with the poor to create a more equal society. The drive hit tech firms as well as property firms, which were forced to reduce their debt levels as authorities sought to control high home prices.

This weighed on Chinese tech and property firms, sending the net worth of the country's richest people plunging. Ma, who at his peak was worth about $61 billion in October 2020, is now thought to be worth about $30.7 billion, according to the Bloomberg Billionaires Index. That's in part because Alibaba's share price has fallen by about 75% from its 2020 peak.

Ma stepped down as the chairman of Alibaba in 2019. He still sits on the board of the Jack Ma Foundation, which he founded.

The foundation did not respond immediately to a request from Insider for comment.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Munich Airport Reopens After Second Drone Shutdown
Pro Europe and Anti-War Babiš Poised to Return to Power After Czech Parliamentary Vote
Sean ‘Diddy’ Combs Sentenced to Fifty Months in Prison Following Prostitution Conviction
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Tokyo’s Jimbōchō Named World’s Coolest Neighbourhood for 2025
European Officials Fear Trump May Shift Blame for Ukraine War onto EU
The Personality Rights Challenge in India’s AI Era
Italy Considers Freezing Retirement Age at 67 to Avert Scheduled Hike
Italian City to Impose Tax on Visiting Dogs Starting in 2026
Study Finds No Safe Level of Alcohol for Dementia Risk
Trump Says Ukraine Can Fully Restore Borders with NATO Backing
Europe Signals Stronger Support for Taiwan at Major Taipei Defence Show
Germany Weighs Excluding France from Key European Fighter Jet Programme
Cyberattack Disrupts Check-in and Boarding Systems at Major European Airports
Björn Borg Breaks Silence: Memoir Reveals Addiction, Shame and Cancer Battle
When Extremism Hijacks Idealism: How the Baader-Meinhof Gang Emerged and Fell
JWST Data Brings TRAPPIST-1e Closer to Earth-Like Habitability
Trump Orders $100,000 Fee on H-1B Visas and Launches ‘Gold Card’ Immigration Pathway
France’s Looming Budget Crisis and Political Fracture Raise Fears of Becoming Europe’s “Sick Man”
Three Russian MiG-31 Jets Breach Estonian Airspace in ‘Unprecedentedly Brazen’ NATO Incident
European manufacturers against ban on polluting cars: "The industry may collapse"
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
Christian Brueckner Released from German Prison after Serving Unrelated Sentence
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
The conservative right spreads westward: a huge achievement for 'Alternative for Germany' in local elections
Pope Leo Warns of Societal Crisis Over Mega-CEO Pay, Citing Tesla’s Proposed Trillion-Dollar Package
Poland Green-Lights NATO Deployment in Response to Major Russian Drone Incursion
U.S. and China Agree on Framework to Shift TikTok to American Ownership
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
The New Life of Novak Djokovic
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
France Erupts in Mass ‘Block Everything’ Protests on New PM’s First Day
Poland Shoots Down Russian Drones in Airspace Violation During Ukraine Attack
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Macron Appoints Sébastien Lecornu as Prime Minister Amid Budget Crisis and Political Turmoil
Vatican hosts first Catholic LGBTQ pilgrimage
Apple Unveils iPhone 17 Series, iPhone Air, Apple Watch 11 and More at 'Awe Dropping' Event
France joins Eurozone’s ‘periphery’ as turmoil deepens, say investors
×